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P133 The Hidden Cost of Convenience: Fintech Use and Risky Financial Behavior in the U.S
Short Description
This study investigates the relationship between financial technology (fintech) use and risky financial behaviors among U.S. adults, using data from the 2021 National Financial Capability Study (NFCS). Guided by the Pain of Paying framework , the study explores how different categories of fintech tools such as mobile payments, transfers, online banking, and budgeting apps may be linked to overspending, credit card misuse, and use of alternative financial services (AFS). Logistic and Poisson regression models are used to estimate both the likelihood and intensity of risky behaviors across fintech users. Contrary to expectations that fintech improves financial management, findings suggest that certain tools may reduce psychological barriers to spending or encourage passive oversight, especially when automation is involved. Results contribute to an emerging literature on the unintended consequences of fintech adoption and offer implications for both behavioral researchers and consumer protection policy. The study emphasizes that fintech tools are not behaviorally neutral and should be evaluated based on user engagement patterns and psychological mechanisms
Type of presentation
Accepted Poster Presentation